The U.S. National Credit Union Administration (NCUA) on October 9 proposed adding 26 data fields to quarterly financial report Form 5300 for federally insured credit unions that conduct stablecoin business, with a target implementation date of March 31, 2027. According to Odaily, the proposal includes eight fields on reserve assets held for authorized third-party issuers, nine on cryptographic key custody and control, five on financial exposure to issuers, and four on payment stablecoins held on institutions' balance sheets.

The information collection is expected to cover 4,224 federally insured credit unions, with an estimated annual reporting burden of 794,112 hours and an average of 47 hours for a full quarterly report. The NCUA will seek public comments until December 8, and the feedback will be submitted publicly as part of the approval application.